Arqaam Capital Acquires Rashad

Arqaam Capital, an emerging markets investment bank is acquiring Al Rashad Finance and Management Advisory JSC. The purchase agreement includes the business, operations and financial services licence of Rashad.

PRESS RELEASE

Arqaam Capital (“Arqaam”), the emerging markets investment
bank, announced today that it has reached an agreement to acquire Al
Rashad Finance and Management Advisory JSC (“Rashad”). The purchase
agreement includes the business, operations and financial services
licence of Rashad.

Following the close of the acquisition, the company will operate under
the name Arqaam Capital Libya. Rashad has obtained initial approval for
a financial services licence from the Libyan Stock Market and will
request that the company’s final licence will allow the company to buy
and sell securities; advise on investments in securities; manage
security portfolios and investment funds; promote subscriptions in
securities; margin funding; and proprietary trading.

Rashad was founded in February 2012 to support institutions,
businesses, governments and NGOs to plan, manage and execute
development projects. Since then, Rashad has been engaged to support a
variety of projects ranging from public financial management and
organisational restructurings for government bodies, to corporate
finance support for a private construction business, to the
establishment of an NGO. Following the close of the acquisition, the
Rashad team will join Arqaam Capital Libya and leverage Arqaam’s
regional network to enable clients to participate in projects and
investments in Libya.

“We have seen increasing client interest into the region and have
already established relationships with key public and private entities
in the country,” said Riad Meliti, Chief Executive Officer of Arqaam
Capital. “This acquisition will provide us with additional
on-the-ground insight into the Libyan market, which we will, in turn,
be able to provide to our clients. Building on our recent expansion
into Egypt, the addition of a Tripoli office is an important extension
of the regional network we offer our clients.”

“The International Monetary Fund has forecasted that Libya’s nominal
GDP will grow 121% in 2012. This startling growth projection is in line
with our view on the country. We are very positive on the long-term
prospects for the country’s economy given its strong fundamentals such
as GDP per capita, its youthful population and significant natural
resources. We believe that the interim government will be able to
leverage these fundamentals to make important strides in its
reconstruction efforts and are confident that the country will be able
to capture significant growth and stability in the coming years.”

The proposed transaction is subject to regulatory approvals, including
consent from the Libyan Stock Market. It is expected that the
transaction will close in the fourth quarter of this year.

About Arqaam Capital

Arqaam Capital is a specialist emerging markets investment bank,
bringing regional and international product offerings to Emerging
Markets. Arqaam Capital combines international best practice with
regional expertise and creates investment opportunities primarily for
Middle Eastern investors looking to invest in the region and
internationally, and for international investors looking for
opportunities in Emerging Markets. Arqaam Capital has strong roots in
the Middle East with a regional shareholder base which includes
institutions, family offices and high net worth individuals. Arqaam
Capital is headquartered in the Dubai International Financial Centre
(DIFC) and operates out of offices in Dubai, Beirut, London and Cairo.
Arqaam Capital has seven business lines – Corporate Finance, Asset
Management, Cash Equity, Credit Trading, Equity Derivatives, Treasury
and Custody.